This past week in gold
GLD – buy signal failed.
SLV – on sell signal.
GDX – buy signal failed which is common during a down cycle.
XGD.TO – buy signal failed which is common during a down cycle.
CEF – buy signal failed.
The $HUI:GLD ratio has been an excellent leading indicator for us during the bull market and again in the current bear market. Until this long term trend is reversed, risk belongs to buyers.
Long term – on major sell signal since Mar 2012 when $HUI was at 550.
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